ANNAPOLIS – Governor Wes Moore on Jan. 17 released the Moore-Miller administration’s Fiscal Year 2025 budget proposal.
“The $63.1 billion plan follows a fiscally responsible …
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ANNAPOLIS – Governor Wes Moore on Jan. 17 released the Moore-Miller administration’s Fiscal Year 2025 budget proposal.
“The $63.1 billion plan follows a fiscally responsible framework to respond to the state’s budget challenges while making record investments in priorities that will make Maryland safer, more affordable, more competitive, and the state that serves,” a statement from his office said.
“This budget makes our values very clear in both what we invest and how we invest. We’ve taken action in a fiscally responsible way, studied the data and directed state resources toward proven programs that have big returns, and we’ve prioritized spending in a way that invests in our state and grows our economy in the long run,” said Gov. Moore. “We will give Marylanders the kind of leadership they know and deserve – and now, it's time to work in partnership with the Maryland General Assembly to get a final budget passed. This will be Maryland’s decade and the investments we make today will pave the way for the future we all seek.”
The governor’s FY 2025 budget proposal shrinks the state’s structural deficit by 34%, keeps the Rainy Day Fund balance at 9.4% and flips the state’s projected cash shortfall of $1.1 billion to a positive cash balance of more than $100 million, without raising taxes for Marylanders. “The proposal directs state resources toward fighting child poverty, makes record investments in childcare, helps tackle housing supply challenges to boost population growth and support economic mobility, and bolsters our administration’s work to rebuild State government,” the statement said.
Highlights include:
Public safety
Affordability
Education
Infrastructure
Economic Development
Service
More information about the Moore-Miller Administration’s FY 2025 proposed budget is available at dbm.maryland.gov.